Chapter 13 P5 - PART A Consolidated Income and Retained...

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PART A New Translation US Consolidated Income and Retained Earnings Statement Zealand $ Rate $ Revenues 3,225,000 0.748000 2,412,300 NOTE: Cost of Goods Sold 2,200,000 0.748000 1,645,600 Transalation: The All-Current Method Depreciation Expense 140,000 see computation 111,555 The exchange rate as of the balance sheet data is employed for all assets and liabilities Other Expenses 540,000 0.748000 403,920 The average exchange rate is used to translate income accounts Net Income 345,000 251,225 For depreciation expense, if the date of purchase can be identified then the exchange rate at that date should be used Retained Earnings 720,000 0.729800 525,456 Comutation Date New Zeala Rate US Less: Dividends Declared (100,000) (73,550) Jan 1, 1994 130000 0.8011 104143 Jul 1, 2008 10000 0.7412 7412 Retained Earnings 620,000 451,906 Balance Sheet Cash and Receivables 880,000 0.729800 642,224 Inventories 500,000 0.729800 364,900 Land 400,000 0.729800 291,920 Building (net) 605,000 0.729800 441,529 Equipment (net) Purchased before 1/1 380,000 0.729800 277,324 Purchased 7/1 90,000 0.729800 65,682 Totals 2,855,000 2,083,579 Short-Term Accounts and Notes 210,000 0.729800 153,258
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Chapter 13 P5 - PART A Consolidated Income and Retained...

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